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The Future of Marketing: Artificial Intelligence, Virtual Reality, and Neuromarketing

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Marketing Communications and Brand Development in Emerging Economies Volume I

Part of the book series: Palgrave Studies of Marketing in Emerging Economies ((PSMEE))

Abstract

The emergence of new technologies is influencing marketing research and business decisions. Specifically, artificial intelligence (AI), virtual reality (VR), and neuropsychological tools are changing the way we collect, store, and analyse marketing data. To realise the benefits of these technologies, which have implications for marketing communications as they facilitate the in-depth understanding of consumer experience, strategic and proactive orientations are required. To this end, this chapter reviews extant literature on AI, VR, and neuromarketing, providing guidance on how future marketing decisions will be made through leveraging these new technology-based tools. With its increasing computer power, AI will support broad marketing applications, such as analysis and targeting of customers for effective decision-making. VR can enhance a customer’s experience through the purchase journey, thus providing ample opportunities for marketers to utilise innovative marketing campaigns. Neuromarketing can capture tacit cognitive and emotional responses to marketing stimuli and enable informed forecasting of consumers’ purchase decisions.

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Authors and Affiliations

  1. Lagos Business School, Pan-Atlantic University, Lagos, Nigeria

    Ogechi Adeola

  2. School of Management and Social Sciences, Pan-Atlantic University, Lagos, Nigeria

    Olaniyi Evans

  3. Kedge Business School Marseille, Marseille, France

    Jude Ndubuisi Edeh

  4. Olabisi Onabajo University, Ago-Iwoye, Nigeria

    Isaiah Adisa

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  1. Ogechi Adeola
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  2. Olaniyi Evans
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  3. Jude Ndubuisi Edeh
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  4. Isaiah Adisa
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Correspondence to Ogechi Adeola .

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Editors and Affiliations

  1. Lagos Business School, Pan-Atlantic University, Lagos, Nigeria

    Ogechi Adeola

  2. University of Kigali, Kigali, Rwanda

    Robert E. Hinson

  3. Skyline University College, Sharjah, United Arab Emirates

    A M Sakkthivel

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Adeola, O., Evans, O., Ndubuisi Edeh, J., Adisa, I. (2022). The Future of Marketing: Artificial Intelligence, Virtual Reality, and Neuromarketing. In: Adeola, O., Hinson, R.E., Sakkthivel, A.M. (eds) Marketing Communications and Brand Development in Emerging Economies Volume I. Palgrave Studies of Marketing in Emerging Economies. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-88678-3_12

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